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June 11, 2014
10:00 EDTPRXL, TEU, DDD, TBBK, MAR, BA, PSO, DCIX, BEAVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 3D Systems (DDD) downgraded at Gabelli... BE Aerospace (BEAV) downgraded to Hold at Canaccord... Boeing (BA) downgraded to Sector Perform from Outperform at RBC Capital... Box Ships (TEU) downgraded to Underweight from Equal Weight at Barclays... Diana Containerships (DCIX) downgraded to Underweight from Equal Weight at Barclays... Marriott (MAR) downgraded at Macquarie... PAREXEL (PRXL) downgraded to Buy from Strong Buy at ISI Group... Pearson (PSO) downgraded to Sell from Neutral at Goldman... The Bancorp (TBBK) downgraded to Neutral from Buy at Sterne Agee.
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October 6, 2015
16:30 EDTMARMarriott plans to open 60 new hotels in Caribbean, Latin America by 2018
Tim Sheldon, President of Caribbean and Latin America operations at Marriott International, announced an expected 75% increase in Marriott's Caribbean and Latin American distribution between 2015 and 2018 including a tripling of the company's presence in Brazil with the addition of 11 new hotels in that market. Marriott has 93 hotels open and more than 60 hotels under development in the Caribbean and Latin America, including 11 new hotels across 6 cities in Brazil. Marriott has plans to invest approximately $400M Brazilian Reais (U.S. $100M) in Brazil to launch 4 of its modern essential brands: Courtyard by Marriott, Residence Inn by Marriott and Fairfield Inn by Marriott and AC by Marriott. Seven of these eleven planned hotels are already under construction, which will be owned by Marriott or Brazilian partners. Over time, Marriott expects to sell its owned hotel assets, retaining long term management agreements. Year to date, the company has opened 8 hotels in the Caribbean and Latin America, with another nine expected by year end.
October 5, 2015
16:16 EDTBAOn The Fly: Top stock stories for Monday
The Dow began the day with a triple digit jump and continued to tack on gains from there, rising nearly 2% by the time the closing bell rang. The Nasdaq and S&P also posted significant gains in the market's broad based advance. The number of advancing stocks crushed the number of declining stocks while the up volume overwhelmed the down volume. The S&P 500 is now on a five day winning streak with earnings season set to unofficially begin on Thursday, when Alcoa (AA) releases its quarterly report after the close. ECONOMIC EVENTS: In the U.S., Markit's services PMI dropped to 55.1 in the final September print, compared to the preliminary reading of 55.6 and August's 56.1 figure. ISM's services index dropped 2.1 points to 56.9 in September, versus expectations for a more modest pullback to a reading of 57.5. COMPANY NEWS: General Electric (GE) was the best performer on the Dow, advancing $1.35, or 5.3%, to $26.82 after activist investor Nelson Peltz disclosed that his firm, Trian Fund Management, has accumulated a $2.5B stake, making it one of the company's top ten shareholders. Trian, which believes GE is "executing a bold transformation" from a broad conglomerate into an industrial company, predicted that GE stock may be worth $40-$45 per share by 2017... Shares of Twitter (TWTR) rose $1.85, or 7.03%, to $28.16 after the company appointed co-founder and interim Chief Executive Jack Dorsey as permanent CEO. Analysts welcomed the news, saying Dorsey was simply "too good to pass up" despite his concurrent role as head of payments company Square. Axiom analyst Victor Anthony upgraded the stock to Buy from Hold, though the rating change was made prior to this morning's CEO news, which had been previewed last week by Re/code, was confirmed by the company... The U.S., Japan and ten other countries came to terms on the Trans-Pacific Partnership, a trade agreement meant to open agricultural markets, tighten intellectual property rules and establish a group that will have the clout to challenge China's influence in the region. Reacting to the deal, Honeywell (HON) said trade agreements like the TPP have the potential to boost exports, support jobs, and increase access abroad, while Boeing (BA) pointed out that more than 70% of its commercial airplane revenue last year came from customers outside the U.S. MAJOR MOVERS: Among the notable gainers was Spark Therapeutics (ONCE), which surged $9.09, or 20.69%, to $53.02 after the Phase 3 trial of the company's lead gene therapy product met its primary endpoint. Also higher was SunEdison (SUNE), which gained 77c, or 9.31%, to $9.04 after announcing plans to optimize its business operations by refocusing on its core markets and simplifying its structure, among other initiatives. Among the noteworthy losers were a number of Apple (AAPL) chip suppliers, with Cirrus Logic (CRUS), Skyworks (SWKS) and Avago (AVGO) falling a respective 4.5%, 1.7%, and 2.6% after Citi analysts lowered fourth quarter iPhone sales estimates. Also lower was Valeant (VRX), which lost $18.86, or 10.34%, to $163.46 after its alleged "price hike" business strategy was highlighted in reports by the New York Times and Barron's. Additionally, AtriCure (ATRC) declined 8.8% to $20.47 after releasing preliminary third quarter results and agreeing to acquire cardiac device maker nContact. INDEXES: The Dow gained 304.06, or 1.85%, to 16,776.43, the Nasdaq advanced 73.49, or 1.56%, to 4,781.26, and the S&P 500 rose 35.69, or 1.83%, to 1,987.05.
12:40 EDTBABoeing CEO says Trans-Pacific Partnership creates new opportunities
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11:06 EDTMARMarriott announces partnership with INJAZ AL-Arab
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11:01 EDTBABoeing says Q3 deliveries totaled 199
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10:00 EDTBEAVOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Equal Weight from Underweight at Barclays... Allegheny Technologies (ATI) upgraded to Buy from Hold at Deutsche Bank... Amicus (FOLD) upgraded to Buy from Neutral at Chardan... ArcelorMittal (MT) upgraded to Buy from Sell at Citi... AutoZone (AZO) upgraded at Oppenheimer... BE Aerospace (BEAV) upgraded to Buy from Hold at Gabelli... Boston Scientific (BSX) upgraded to Strong Buy from Outperform at Raymond James... C1 Financial (BNK) upgraded to Buy from Hold at Sandler O'Neill... CONSOL (CNX) upgraded to Hold from Sell at Deutsche Bank... Discover (DFS) upgraded to Outperform from Market Perform at Bernstein... Dr Pepper Snapple (DPS) upgraded to Buy from Hold at Evercore ISI... International Game (IGT) upgraded on valuation at Sterne Agee CRT... Juniper (JNPR) upgraded to Buy from Hold at Stifel... Keryx (KERX) upgraded to Equal Weight from Underweight at Morgan Stanley... Knowles (KN) upgraded to Overweight from Equal Weight at Stephens... LaSalle Hotel (LHO) upgraded to Buy from Hold at Evercore ISI... Lazard (LAZ) upgraded to Positive from Neutral at Susquehanna... Nucor (NUE) upgraded to Buy from Hold at Deutsche Bank... OUTFRONT Media (OUT) upgraded to Buy from Neutral at Goldman... Park Sterling Bank (PSTB) upgraded to Buy from Hold at Sandler O'Neill... Phoenix Companies (PNX) upgraded to Neutral from Underweight at JPMorgan... SBA Communications (SBAC) upgraded to Outperform from Neutral at Macquarie... Snap-On (SNA) upgraded to Buy from Neutral at Longbow... Swift Transport (SWFT) upgraded to Buy from Hold at Evercore ISI... Team (TISI) upgraded to Buy from Hold at Johnson Rice... Teck Resources (TCK) upgraded to Outperformer from Sector Performer at CIBC... Toll Brothers (TOL) upgraded to Positive from Neutral at Susquehanna... Twitter (TWTR) upgraded to Buy from Neutral at Axiom... UniCredit (UNCFF) upgraded to Sector Perform from Underperform at RBC Capital... Wynn Resorts (WYNN) upgraded to Market Perform from Underperform at Telsey Advisory... bluebird bio (BLUE) upgraded to Overweight from Equal Weight at Morgan Stanley.
09:05 EDTDDD3D Systems announces partnership with Penn State
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08:25 EDTBEAVBE Aerospace upgraded to Buy from Hold at Gabelli
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October 4, 2015
16:24 EDTBAEmirates says won't decide between Boeing, Airbus until 2016, Bloomberg reports
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October 2, 2015
17:29 EDTBABoeing awarded $110.1M government contract modification
The Boeing Co., Clearfield, Utah, has been awarded a $110,109,415 modification on previously awarded contract FA8414-15-C-0001 for replacement of the intercontinental ballistic missile Minuteman III telemetry, test and termination systems. Work will be performed at Clearfield, Utah; Huntington Beach, California; and Heath, Ohio, and is expected to be complete by Aug. 31, 2019. Fiscal 2015 research, development, test and evaluation funds in the amount of $4,840,000 are being obligated at the time of award. The Air Force Nuclear Weapons Center, Hill Air Force Base, Utah, is the contracting activity.
October 1, 2015
17:25 EDTBALockheed Martin knocked out of NASA delivery competition, WSJ says
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10:39 EDTBABAE Systems selected by Boeing to develop digital electronic warfare system
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10:04 EDTBABoeing selected as prime contractor for EPAWSS electronic warfare suite program
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10:01 EDTBAApple names James Bell to board of directors
Apple (AAPL) announced that James A. Bell, former CFO and corporate president of The Boeing Company (BA), has been elected to Apple's board of directors. During his 38-year career at Boeing, he also oversaw Boeing Capital Corporation and Boeing Shared Services, and was interim CEO of The Boeing Company in 2005.
05:30 EDTPSOPearson resumed with a Buy at Citi
Price target 1,425p.
September 30, 2015
17:45 EDTBABoeing awarded $127.08M government contract
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16:13 EDTBALoss of Ex-Im Bank jeopardizes $1.1B order for Boeing, Reuters says
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13:13 EDTBABoeing agrees to provide YTO Airlines with 737-800 BCFs
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07:04 EDTTBBKThe Bancorp reports $1.25B in total loans in continuing ops at June 30, up 31%
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06:51 EDTBAUnited Launch Alliance wins $882M contract with U.S. Air Force, Reuters says
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